The industry utility enables banks to take a proactive approach in building greater trust with the international financial community and mitigating de-risking.

Central Bank of Belize says, “The adoption of SWIFT’s Sanctions Screening further attests our commitment to prevent financial crime. Implementing the right compliance controls within an organization is not only a regulatory responsibility, but also a priority for global security.”

“We welcome Belize’s Central Bank decision to implement Sanctions Screening to further strengthen their financial crime compliance programme” says Juan Martínez, Managing Director Latin America and the Caribbean, SWIFT. “As compliance and cybersecurity challenges become increasingly sophisticated, we are committed to helping banks to ensure payments are secure and compliant as well as faster and more transparent. Through our growing financial crime compliance portfolio combined with SWIFT’s Customer Security Programme, and global payments innovation initiative, we are addressing these dimensions together in order to take correspondent banking to the next level.”

Since its launch in 2012, SWIFT’s Sanctions Screening service has been adopted by more than 650 customers in more than 140 countries, including entire banking communities. There are also 27 central banks using the service.